Posts Tagged ‘the Pound’

Full Steam Ahead

Once officially in control of the monetary system of the greatest market economy on earth in 1913, the bankers decided to put the pedal to the metal. All the American economy now had to do was grow. So the FED turned its full attention to creating market economies in Europe and China. Since I don’t want to be accused of conspiracy, I won’t say why the war to end all wars failed, why they had to take a second kick at the can—WWII— why the Pound was destroyed in 1929, and why the Japanese Empire was destroyed.

One thing is sure, when Bretton Woods was convened in 1944, Japan, China and Europe were on their way to becoming great market economies and the Pound no longer held sway. At the Bretton Woods conference, everyone agreed that the US fiat Dollar would be the only game in town; not only would all currencies be tied to it but it would become the world reserve currency. Paper had unofficially replaced gold worldwide.  

Now that we’ve explored how America and the US Dollar were created, maybe we could go back and see how, in Europe, in 1789, the bankers destroyed the very inefficient financial power of the times, the Catholic Church.

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The Industrial Revolution

Immediately following the creation of the Bank of England, there was a formidable period called the Industrial Revolution. The main reason for this splurge of economic activity was that the bankers were no longer at the mercy of the Absolute Kings of Divine Right; though undeclared, they were now the kings. They no longer hesitated in financing research, development and production, and it was, second to the creation of Christianity, the greatest period for common man in the history of man.

They printed as much paper money as possible and backed it up with as little gold as they could get away with. They always took care not to undermine the confidence in the Pound, the political stability in the land, and the creation of wealth.

After 100 years of frenzied economic activity the whole world of commerce had become English. Nonetheless, there was nothing international about the Bank of England, other than that the bankers used the Pound to do business in different parts of the world.

These Jewish banking families who had, for centuries, been treated like scum by the Kings of the Holy Roman Empire were now extremely rich and powerful, and were extremely proud to be at the top of the English social landscape. They were English first and foremost, the Pound was the symbol of their power, and the Bank of England was its repository. The idea of tying another Central Bank to the Bank of England or another species to the Pound and making finance international had not occurred to them. That kind of parochial thinking is what made it easy, in 1775, for the greatest financial wizard of all time to steal the American pie.

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